The haircut on debt and the currency reboot could insofar gain some additional meaning – and additional support as a consequence of one or several medium-weight crash-events.30
The tradition of the Jubilee that way after many hundred years might experience a reanimation: “The main purpose of this institution was to keep the balance between the owners of goods, as it was intended by Moses: In a certain sense the Jubilee should accomplish a renaissance of the whole country. Before the Babylonian captivity the Jubilee doesn’t seem to be noticed, though there are traces to be found at Jes 61,1f EU. After the destruction of the Second Temple in the year 70 the Jubilee hasn’t been celebrated any more in Judaism.” 31
Investment liability in real economy feedback loops could be one thing – the very for those, who currently are piling the cotton rags – or their assumed counter values somewhere else – and haircut on debt for those, who don’t have anything or less than anything left anymore of those – accompanied by simultaneous agreement on local minimum wages and covering of basic services. Because – the permanent QE distribution as much as the endless ESM-distribution, which now is announced and everywhere shall be loaded “in small tranches “ on people’s backs will lead to deflation and soon then to (hyper-) inflation – to a “new global economical crisis”.
This will take place together with guaranteed profits for cadres and “project developers”, who actually also act as landgrabbers in the kingdom currently lacking a middle. No way out – a creeping course of that scenario, as it is currently attempted won’t be possible for too long any more. 25,32
Far from it – in the course of “global elites” tending more and more evidently to the first scenario, who increasingly abolish “democracy” and basic rights everywhere for preserving power and continuously maintaining equivalent “stability” of business as usual in the global feudal system within the implosion of the Pax Americana and the abolition of basic civil rights in the course of austerity measures in Europe also the Middle Kingdom has more and more taken leave from freedom and basic rights – and from the constitutional aim socialism – particularly after the last constitutional change from 2004, where “legal private property is protected as untouchable”. 33 What instead in which way is protected as “legal private property” in the course of landgrabbing rather being the rule but the exception – that has first of all to be judged by the judge – and powerful interests influencing him or her.
“Communism is dead, dictatorship is alive” 34 is the headliner of the Southern German newspaper on October 20th, 2012. “Auhoritarian state capitalism” 34 though in his claims of monopoly is as much endangered by struggling regional and provincial interests and can only be maintained with massive force. That way there are similarities between “corporate capitalism” in the West, where the state is just one participant on the market and where that way in Europe also powerful private companies and the EC apparatus from Brussels together with the IMF increasingly more suffocate and suppress every single state in a classic act of surface lamination. Every single state, that with its constitution and its monopoly of the divisions of government before has been legitimated by the citizens. Because of the fact, that the state also acts as legislative power and dominates the executive power public welfare is more and more holed and subordinated to powerful private interests. A process meanwhile, which significantly endangers – even destroys existential basics of living everywhere.
Water, light and air – and sound don’t know countries or territorial borders – no plot boundaries – they are common goods not for sale – basic rights of all people. They are the core of freedom, equality and fraternalism – and – of the respomsibility for the creation – for people’s life with that world.
Regarding China’s rapid development in this connection once more:
Already 1989, when the one writing here travelled the country it was quite evident, that economic liberalization stood uttermost restrictively in opposition to an extremely limited political freedom – particularly after the abatement of the student movement. At that time on my way back I experienced the Soviet Union as the blatant opposite – markets there were destroyed, but Glasnost and Perestroika allowed some utter freedom (of speech). Civil freedoms were acknowledged and kept on prevailing – demand and right of trade though wasn’t to be fulfilled in the stiff and run down command economy weakened by the embargo. Lastly then, when I worked in China between November 2011 and April 2012 the country was at the tipping point. The scandal then around Bo Xilai in March/ April 2012, party leader after all at Chongqing, with 29 to 30 million inhabitants the biggest city of the world at the mouth of the Jialing into the Yangtse 35 then might have marked the turning point. If and to what extent the whole affair – also the soon murder accusation and the quick process against the wife of the popular “leftist” – the “princeling” also date from controlled denunciation campaigns – that can here and now only be subject for speculation.
Intrigues, murders and manipulations and multiple slander campaigns – everything, that within the linguistic dictation of “political correctness“ in the wide field of “conspiracy theories” immediately is banned with a curse and that way becomes a taboo – everywhere these means are popular for steering the skills and for eliminating the political opponent – in the West, East, North and South – everywhere. Without any doubt Bo Xilai though was an exalted populist, who might have caused some chaos in the politbureau and the country itself – if applicable even a new “cultural – or a civilization revolution”. Disquiet, one fears there the way, the devil fears the holy water seeing the protests flaring up all over the country – protests against inflation, miserable working conditions and environmental distruction, landgrabbing and corruption of cadres and their entrepreneurial clients.
In China however now the way towards more “planning security” might go on – also a reason to be happy mostly as well for many Western entrepeneurs. True “reforms” that way will only be proceeded in a slow and tough manner and – if they really will bring a “sustainable” improvement of these conditions can be doubted here.
Xi Jinping’s main focus will be on stability and integrity of the Middle Kingdom – powerful economic interests though will significantly influence him as much as his colleagues in the West. It also rests with other powerful circles in the Middle Kingdom searching that middle again though to touch sore spots with their many fingers and to move China into the 21st century that way. These powerful circles will identify themselves increasingly with the dimension of the whole Chinese people within their search for meaning in the idealistic vacuum and will then also arrive at an increasing fulfillment of the 12th five-year plan particularly for the mass of the 99 % there. A hard and difficult process, which will require some sacrifice, but – a sustainable one. And – without a restorative return time and again on what this term means, whose German translation has been borrowed from forestry there would never have been any cultural history – not to mention 4000 years of Chinese one. Although the soil was soaked with blood therein quite often.
Ideal vacuums thus significantly characterize these hypermaterialistic and highly armed states and corporative bodies, who though claiming the end of history for themselves by suppressing many uncomfortable aspects of that particular history of humanity to a certain degree destroy themselves as well. Without any idea also material looses its value. Physics, which ignores metaphysics and doesn’t realize, that without that non material or even non particle world she herself couldn’t exist is unenduring viable. Both spaces account for each other and need to be balanced out – the vacuum of one of them causes the other one’s death.
Here once again is the question – will there be an implosion with some comparatively minor collateral damage we will undergo there and – we will significantly contribute to shape or – will it become an explosion, which will tear all of us down into the abyss of hell.
I for myself think, because of the fact, that life is very nice and the world is a wonderful place 99+1% of humanity rather would vote for the first scenario.
But – of course there’s still “a lot of persuading” to do and some abysses to pass by.
30 A debt watch to be taken with a pinch of salt – just regarding one side – the tails’ side of the coin - http://www.gold-gold-gold.de/files/longdesc/schuldenuhr
31 http://de.wikipedia.org/wiki/Jubeljahr - thanks, Frank Bartel.
32 http://www.goldseiten.de/artikel/150733—Todesglocken-fuer-den-US-Dollar-Teil-1~2.html?seite=1 - just German
33 http://de.wikipedia.org/wiki/Verfassung_der_Volksrepublik_China and „Gewährleistung und Grenzen von Eigentum in der VR China“ (“Safeguarding and borders of property in the People’s Republic of China”)- Bettina Ruhe, Lit Verlag (Februar 2007) - http://books.google.de/books?id=-sECCFDl8sAC&pg=PA124&lpg=PA124&dq=china+verfassungsziel&source=bl&ots=zXKgbnhGLM&sig=t-yMPx6KT7Zp6BcrEY9_pyPu7e4&hl=de&sa=X&ei=l9qJUO3uConRtAa1zYGYAQ&ved=0CDQQ6AEwAw#v=onepage&q=china%20verfassungsziel&f=false
History of Economics from the 18th Century till Today – Deflation and War – John Maynard Keynes, the Treaty of Versailles and powerful „Flocks“ and “Schools” Fearing their Decrease of Significance. here